Impala Platinum records 17% output increase in Q1 2016
Thursday, 28 April 2016 14:28
During the first quarter of 2016, miner Impala Platinum produced 353,000 ounces of platinum, up 17% from 301,000 ounces in Q1 2015.
The increase is mainly due to higher output at its Zimbabwean mine which produced 89,000 oz during the quarter, compared to 52,000 oz over the same period last year. Moreover, the firm had good results at its Marula and Two Rivers Mimosa mines, in South Africa, which, in addition to volumes provided by Impala Refining Services (IRS) increased Impala’s platinum output by 32.9%.
However, the company also had some major drawbacks. Out of a total of six deaths, Implats recorded two deaths at Impala Rustenburg and one at Mimosa.
The firm plans this year to produce 1.42 million ounces of refined platinum at an average cost of R22500/oz.
Impala operates, in Zimbabwe, the Ngezi mine in which it detains a 30% stake. The Johannesburg-based company contributes 22% of platinum produced worldwide.
Louis-Nino Kansoun
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